Coupang (CPNG) Gross Margin (2020 - 2026)
Coupang (CPNG) posted Gross Margin of 25.71% for Q3 2026, down 3.64 percentage points from 29.35% a year earlier and down 2.45 percentage points from the prior quarter.
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Analysis
Coupang (CPNG) Gross Margin (2020 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Gross Margin at Coupang was 27.37%, down 2.60 percentage points year-over-year; for FY2025, it was 29.37%, up 0.19 percentage points from FY2024.
- Annual Gross Margin has increased for four consecutive years, with a five-year change of +12.77 percentage points (FY2020 to FY2025).
- In prior years, Coupang's Gross Margin was 29.18% in FY2024 (+3.79 pp), 25.39% in FY2023 (+2.50 pp), 22.88% in FY2022 (+6.85 pp) and 16.03% in FY2021 (-0.56 pp).
- The Q3 2026 figure stands as the lowest quarterly Gross Margin since Q4 2023.
- On a year-over-year basis, Gross Margin has declined in each of the last four quarters, with an average year-over-year change of -0.14 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Gross Margin in the past five years was Q2 2022, with a gain of 8.20 percentage points; the weakest was Q3 2026, with a drop of 3.64 percentage points.
- According to Business Quant data, Gross Margin for the three prior quarters was 28.16% (Q2 2026), 27.01% (Q1 2026) and 28.79% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,813.13 Bn | 2,309.80 Bn | 107.37 Bn | 53.17% |
| 2 | Home Depot | 348.98 Bn | 342.22 Bn | 16.12 Bn | 33.67% |
| 3 | Tjx Companies | 152.61 Bn | 130.16 Bn | 5.07 Bn | 33.41% |
| 4 | Lowes Companies | 127.51 Bn | 120.47 Bn | 8.58 Bn | 33.04% |
| 5 | Carvana | 79.45 Bn | 70.33 Bn | 1.52 Bn | 18.92% |
| 6 | Ross Stores | 75.20 Bn | 58.12 Bn | 2.12 Bn | 33.83% |
| 7 | O Reilly Automotive | 74.67 Bn | 73.76 Bn | 2.52 Bn | 51.45% |
| 8 | Target | 71.76 Bn | 66.35 Bn | 8.94 Bn | 33.67% |
| 9 | Autozone | 53.55 Bn | 52.40 Bn | 3.52 Bn | 53.34% |
| 10 | Coupang | 29.38 Bn | 5.21 Bn | 2.56 Bn | 25.71% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 25.71% |
| Jun 30, 2026 | 28.16% |
| Mar 31, 2026 | 27.01% |
| Dec 31, 2025 | 28.79% |
| Sep 30, 2025 | 29.35% |
| Jun 30, 2025 | 30.04% |
| Mar 31, 2025 | 29.29% |
| Dec 31, 2024 | 31.27% |
| Sep 30, 2024 | 28.85% |
| Jun 30, 2024 | 29.25% |
| Mar 31, 2024 | 27.12% |
| Dec 31, 2023 | 25.61% |
| Sep 30, 2023 | 25.32% |
| Jun 30, 2023 | 26.10% |
| Mar 31, 2023 | 24.48% |
| Dec 31, 2022 | 24.01% |
| Sep 30, 2022 | 24.19% |
| Jun 30, 2022 | 22.90% |
| Mar 31, 2022 | 20.39% |
| Dec 31, 2021 | 15.87% |
API Access
Coupang Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=CPNG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "CPNG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=CPNG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();